FREE BOOKS

Author's List




PREV.   NEXT  
|<   90   91   92   93   94   95   96   97   98   99   100   101   102   103   104   105   106   107   108   109   110   111   112   113   114  
115   116   117   118   119   120   121   122   123   124   125   126   127   128   129   130   >>  
overnment supersede avaricious man and blind nature in the creation and distribution of money, in order that money may be a stable purchasing power. Second, a determination that money shall no longer be a commodity to be bought, and sold, and manipulated, a leech upon labor in the hands of a few, but a convenience of trade, accessible to the many at first cost. Third, a demand that the misnamed national bank system of the present shall have its spirit of greediness exorcised, so that it may hereafter serve the people instead of its management. Are these ideas indefinite? Do they not mean "money at cost"? We would now call attention to those facts which the western farmer says have opened his eyes, made him indifferent to the sneers of the banking class and its servitors, and fixed him in his purpose to effect a permanent change in the financial system of the country. He says that the average profits of business enterprises in this country do not exceed three per cent.; that money loaning at six and seven per cent. of necessity congests the wealth of the nation; that eighty cents' worth of silver, stamped by government as a dollar, or a cent's worth of paper, bearing the same stamp, buys as much for him in the markets of the country as a gold dollar; that it is easier for him to pay his debts when money is plentiful; that the paper demand notes of '62, a full legal tender, stood at par with gold while the greenbacks, repudiated in terms by the very bill which created them, went skyward; that a contraction of currency has preceded every serious financial panic in the history of the country; that prosperity for the laborer, the producer, and the debt-payer has always accompanied currency expansion; that money loaners are strangely interested in keeping money scarce, and for that purpose fought gold in '50 when California and Australia threatened to flood us, the greenback in Lincoln's administration, and silver in '73, '78, and '91; that the farmer's products have been refused a market within a year past because there was not money to handle them; that present rates of interest consume him; and that, with good security to offer, he is obliged to pay exorbitant rates for money and in many cases is refused it altogether. Let us remember that the last word has not yet been spoken upon the financial question; that the world, even the financial world, has not seen all of truth and wisdom yet; that reason is better than a
PREV.   NEXT  
|<   90   91   92   93   94   95   96   97   98   99   100   101   102   103   104   105   106   107   108   109   110   111   112   113   114  
115   116   117   118   119   120   121   122   123   124   125   126   127   128   129   130   >>  



Top keywords:

country

 
financial
 
present
 

system

 
demand
 
farmer
 
purpose
 

currency

 

refused

 

dollar


silver
 

prosperity

 

history

 

laborer

 
producer
 
easier
 

plentiful

 

greenbacks

 

created

 
skyward

preceded
 

contraction

 

repudiated

 

tender

 
threatened
 

exorbitant

 

obliged

 
altogether
 

interest

 
handle

consume
 

security

 

remember

 

wisdom

 

reason

 
spoken
 

question

 

fought

 

scarce

 
California

Australia

 

keeping

 

interested

 

expansion

 
loaners
 

strangely

 

greenback

 
market
 

products

 

Lincoln